What do you do when you get property leads as a junior in REPE?
I'm an associate at a GP. We're a small firm that's pretty flat and that lets me wear a lot of hats. That said, I'm not a part of the deal team. I get unsolicited emails/calls here and there from people either interested in buying one of our properties or selling one of theirs (occasionally brokers).
I could just forward this to our deal team, but I don't want to inundate their inbox with shitty deadend leads. I'd definitely jump on an opportunity to look at a deal and learn more about it (collect RR's, historicals, comps, etc.), potentially even underwrite it myself back of napkin and filter what I send that way. However, I'm worried about overstepping my bounds and representing the firm in a capacity I shouldn't be (by essentially sourcing deals for my company without their involvement/awareness).
Anyone have a take on this?
Just ask someone on your deal team how they want to handle it. Some want to see everything, some will tell you to just delete it and move on.
My team likes to see/track every debt deal anyone sees. My equity team are very long term holders (open ended fund), so they say delete.
It's great that you have the initiative to explore potential deals, but it's essential to maintain clear boundaries. I'd suggest discussing this with your superiors to determine if there's room for you to take on a more active role in deal sourcing, ensuring alignment with your firm's strategies and policies. This can be a valuable learning opportunity while avoiding any overstepping of bounds. If you're interested in condo property management, this could be a valuable avenue for growth within the firm.
You’re asking the wrong person. Ask yourself if you want to do acquisitions.
If yes, then underwrite the deals that come your way. If no, then ask the deal team if they want to see everything that comes your way.
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